Nisa Investment Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,900,415 shares of the information services provider's stock after selling 127,820 shares during the period. Alphabet accounts for approximately 1.5% of Nisa Investment Advisors LLC's holdings, making the stock its 7th biggest position. Nisa Investment Advisors LLC's holdings in Alphabet were worth $293,880,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Wealth Group Ltd. raised its stake in Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares during the last quarter. Eagle Capital Management LLC raised its stake in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock worth $37,288,490 in the last quarter. 11.64% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Citigroup restated a "buy" rating and issued a $203.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Wells Fargo & Company increased their target price on shares of Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Roth Capital reiterated a "buy" rating and set a $205.00 target price (up previously from $180.00) on shares of Alphabet in a research report on Tuesday, July 8th. Cantor Fitzgerald increased their target price on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Westpark Capital reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $201.68.
Get Our Latest Analysis on Alphabet
Alphabet Price Performance
NASDAQ GOOGL traded up $0.47 during trading hours on Friday, reaching $184.05. The company's stock had a trading volume of 10,761,344 shares, compared to its average volume of 32,009,831. The firm's 50-day moving average price is $172.26 and its 200-day moving average price is $173.15. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.28 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.
Alphabet Company Profile
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
